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REPORT: Payment Tech Tops FIs’ Innovation Agendas

PYMNTS

However, financial institutions (FIs) are getting better at separating vital areas of innovation from the hype. Banks are increasingly focusing on the fundamentals when determining their innovation agendas. Payment technology is in many ways the flagship among the fleet of innovations that banks are pursuing.

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How Innovation Priorities Are Evolving for FIs

PYMNTS

But how much are FIs really investing in blockchain and artificial intelligence (AI) compared to more foundational innovations? The latest Innovation Readiness Playbook looks at where FIs have been focusing over the past three years and what their plans are for the near future. Data analytics is ready for a surge in interest, however.

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Deep Dive: How Loyalty Innovation Improves Member Relationships, Boosts Brand Awareness

PYMNTS

Although CU members want innovation in member loyalty and rewards, most credit unions are not delivering these programs up to the desired standards. Credit union members’ high expectations when it comes to loyalty innovation do not necessarily make or break their banking relationships. Loyalty Innovation Strategies .

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Sky’s The Limit For Cloud Computing

PYMNTS

In a study published this month, “Cloud Computing — Thematic Research,” GlobalData , the London-based analytics company, reported cloud computing has grown significantly in recent years. In simple terms, cloud computing is storing and accessing data and programs over the internet instead of a computer’s hard drive.

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Cobalt Credit Union’s Data-Driven Innovation In Member Services

PYMNTS

Modern credit unions understand all too well that loyalty innovation is critical to staying in business, and that those that do not prioritize it risk losing a significant share of their members. Loyalty-based innovation is a top concern for many credit union (CU) members, as outlined in the latest Credit Union Innovation Playbook.

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Where Credit Unions Invest To Get The Best ROI

PYMNTS

This means CUs must be carefully attuned to member’s financial needs and the innovations they want most as CUs invest in new products and services aimed at improving the way members engage with their FIs. In many cases, it also requires partnering with emerging FinTechs that are able to quickly deliver the innovations members want most.

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BNY Mellon, Microsoft launch data and analytics solution

BankInovation

Bank Of New York Mellon launched three new data and analytic products with Microsoft last week to provide data services to investment institutions. The three products, namely, Data Vault, Distribution Analytics and ESG Data Analytics, will be available on Microsoft Azure.